The Cabinet on Monday cleared the draft of Bengali and English versions of Regional Trade Agreement (RTA) Policy, 2022 in a bid to protect and expand the country’s export markets overcoming the post-graduation challenges.

The approval came from the Cabinet meeting held with Prime Minister Sheikh Hasina in chair at her office.

Since Bangladesh has graduated from the status of a least developed country (LDC), it needs to come trade agreements with many countries, said Cabinet Secretary Khandker Anwarul Islam while briefing reporters at the Bangladesh Secretariat.

“To protect and expand our export markets as well as ensure duty-free access for our products by overcoming the challenges of LDC graduation, we’ve taken steps to go for regional trade agreements. So, the policy has been taken for it (signing RTAs),” he said.

Besides, the meeting approved the draft of Bangladesh Small and Cottage Industries Corporation Act, 2022 in a view to making the industrial entities under the BSCIC more effective, said the Cabinet Secretary.

The proposed law will particularly promote women entrepreneurs as the existing law -Bangladesh Small and Cottage Industries Corporation Act, 1957— is an old one, which hadn’t focused on women properly.

The Cabinet also approved in principle the draft of International Mother Language Institute (Amendment) Act, 2022 aiming to form a language research trust under the institute.

Scholarship and fellowship will be given from the permanent fund of the trust for language research and development, said Anwarul Islam adding that its name will be ‘Bangabandhu Sheikh Mujibur Rahman Language Research Trust.’

READ: Cabinet orders prompt action against rice hoarders

The meeting endorsed the ratification proposal for an agreement to be signed between Bangladesh and Oman on the mutual visa exemption for the holders of diplomatic, official, special or service passports.

The cabinet approved the proposal for providing the transit facilities to Nepal under the Bangladesh, Bhutan, India and Nepal-Motor Vehicle Agreement (BBIN-MVA) by cancelling its earlier decision over the Operating Modalities for the Carriage of Transit Cargo between Nepal and Bangladesh.

Padma Bridge to be open to a super-gorgeous ceremony: Cabinet Secy   

The inauguration of Padma Bridge will be 'super gorgeous' as there will be replication of the original gala event in all the 64 districts in the country simultaneously, said the Cabinet Secretary.

The long-cherished Padma Bridge is scheduled to be opened to traffic on June 25 next.